Is Moderna (MRNA) Stock Outpacing Its Medical Peers This Year?
Investors focused on the Medical space have likely heard of Moderna (MRNA), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Moderna is a member of our Medical group, which includes 903 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MRNA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 4.30% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, MRNA has gained about 316.62% so far this year. Meanwhile, stocks in the Medical group have gained about 1.55% on average. This means that Moderna is outperforming the sector as a whole this year.
To break things down more, MRNA belongs to the Medical - Biomedical and Genetics industry, a group that includes 393 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 7.04% this year, meaning that MRNA is performing better in terms of year-to-date returns.
MRNA will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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